Hussman Strategic Advisors Inc. Invests $1.04 Million in Montrose Environmental Group, Inc. $MEG

Hussman Strategic Advisors Inc. acquired a new position in Montrose Environmental Group, Inc. (NYSE:MEG) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 42,000 shares of the company’s stock, valued at approximately $1,043,000.

Several other institutional investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Montrose Environmental Group by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock worth $261,000 after buying an additional 488 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Montrose Environmental Group by 2.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after buying an additional 515 shares during the period. CWM LLC raised its stake in Montrose Environmental Group by 8.6% during the 4th quarter. CWM LLC now owns 8,324 shares of the company’s stock valued at $207,000 after purchasing an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Montrose Environmental Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after purchasing an additional 780 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in Montrose Environmental Group by 0.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,430 shares of the company’s stock worth $7,618,000 after purchasing an additional 786 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Price Performance

Shares of NYSE:MEG opened at $22.12 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a fifty day moving average price of $23.22 and a 200 day moving average price of $24.39. Montrose Environmental Group, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $32.00. The firm has a market cap of $800.15 million, a price-to-earnings ratio of -92.17, a P/E/G ratio of 2.05 and a beta of 1.83.

Montrose Environmental Group (NYSE:MEG) last issued its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The firm had revenue of $193.27 million during the quarter, compared to analyst estimates of $186.24 million. During the same quarter in the prior year, the business earned ($0.90) earnings per share. Montrose Environmental Group’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, insider Jose Revuelta sold 7,858 shares of Montrose Environmental Group stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $27.00, for a total value of $212,166.00. Following the sale, the insider owned 269,282 shares of the company’s stock, valued at $7,270,614. The trade was a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Vijay Manthripragada sold 46,121 shares of Montrose Environmental Group stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.41, for a total value of $1,171,934.61. Following the completion of the sale, the chief executive officer directly owned 236,788 shares in the company, valued at approximately $6,016,783.08. The trade was a 16.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 107,527 shares of company stock worth $2,908,583. 10.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MEG. Needham & Company LLC upped their price target on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Montrose Environmental Group currently has an average rating of “Hold” and an average target price of $34.67.

Montrose Environmental Group Company Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.